By Jonathan Ferrar
Today’s business is all about data – how you get it, how you analyze it, how you use it to impact an organization. Yet today’s data-driven world is getting more sophisticated by the second, and most organizations lack the tools and skills necessary to turn their workforce-based data into insights.
In fact, according to a 2014 IBM Institute for Business Value study on talent analytics, only about 20 percent of organizations are able to apply predictive analytics to address important people issues. And as Chief HR Officers worldwide cite talent development, employee engagement, talent retention and workforce productivity as their top priorities, according to a recent IBM survey, now is the time to employ intuitive technology that enables HR and business leaders to better utilize their workforce data.
Hudson Valley Federal Credit Union (HVFCU) is one of the first clients to participate in a new IBM Kenexa Talent Insights beta program to transform the company’s recruitment strategy. To reduce turnover in entry level positions such as tellers and customer service representatives, HVFCU analyzed its recruiting data to uncover common patterns in the skills, work experience and personality traits shared by its top performers. With IBM Kenexa Talent Insights, HVFCU was able to analyze these trends with visual representations of their workforce data and suggested areas for further discovery.
“With the influx of analytics now available to HR, having a tool that requires little to no training and can be easily used by hiring managers not only saves a ton of time, but it is also helping to transform how we think about talent management across the organization,” said Agnes Covell, Director of Total Rewards, HVFCU. “The highly visual interface and natural language processing will free up our HR teams to make new discoveries about our workforce performance, talent needs and readiness to capture new business opportunities.”
In today’s data-driven world, organizations that can harness the power of their data could have an advantage over theircompetitors. With Kenexa Talent Insights, powered by Watson Analytics, IBM is bridging the gap between data scientist and HR professional and empowering HR and business leaders to build a Smarter Workforce.
- By the way, try Watson Analytics here.